FCA looks at 'new golf days' in platform market study

Interim report to be published summer 2018

The Financial Conduct Authority (FCA) is looking at whether platforms should be able to offer advisers free training services and events as part of its platform market study, Professional Adviser understands.

The regulator is looking at whether a conflict of interest arises from platforms offering free training services and events for advisers who use their platforms, taking into account it is the client who pays for the platform. Professional Adviser understands some advisers have drawn parallels to the golf days and inducements that providers used to offer before the Retail Distribution Review. In the FCA's annual competition report, the regulator said adviser platforms suffer from an "inherent conflict" because they are selected, and usually used, by the adviser while being paid for by ...